A top 10 certified public accounting (CPA) firm has boosted its risk management services in the Texas market by combining its Houston office with an internal audit firm there.
BKD, LLP, based in Springfield, Mo., announced the merger of its Houston office with Beacon Alliance, LP. Beacon Alliance, an audit and risk consulting company, will relocate its 13 professionals to BKD’s Houston location. The merger gives BKD’s Risk Management & Technologies division 100 people in 27 offices in 11 states.
BKD, among the top 10 CPA firms in the U.S., also recently acquired Mock & Dakan, P.C., of Overland Park, Kan. The companies said that two partners and 10 staff, who generate $2 million annually, are moving to BKD’s offices in Kansas City, Mo. Operating since 1988, Mock & Dakan focuses on owner-managed businesses and high net-worth individuals with tax, business planning and estate planning.
Meanwhile, the Texas deal is more illustrative of the developing market for services at the corporate level. The BKD-Beacon Alliance merger is one of many in the industry to demonstrate how Sarbenes-Oxley (SOX) compliance has affected the marketplace.
"In the aftermath of Sarbanes-Oxley legislation, both public and private companies are more concerned with corporate integrity and monitoring internal control systems," said Michael W. Burlew, partner in charge of BKD Risk Management Group.
"Securities and Exchange Commission (SEC) non-accelerated filers still face SOX compliance deadlines, while other companies have adopted SOX and internal audit guidelines to improve internal controls and boost stakeholder confidence," Burlew said. “The addition of Beacon Alliance's professionals allows BKD to expand its service offerings to these companies."
Beacon Alliance provides internal audit, SOX compliance, information technology and process efficiency consulting. Founded by managing partner Selina K. Wilbur, the company said its annual revenues were about $2 million.
"We're extremely excited about joining with BKD," said Wilbur. "With the talent and skills available, I look forward to the positive impact we will have on the business community."